Global Market Opportunities
Photonics Growth in Europe
Photonics is no longer a specialist corner of the deep tech market. European VC investment in photonics startups reached $205m in 2024 - a 68% increase on the year before and roughly twelve times the level recorded in 2019. That growth curve reflects a technology sector moving from research-stage curiosity to commercial urgency, driven largely by the energy and bandwidth demands of AI infrastructure.
The most active deal activity is concentrated at the early and early-growth stages - Series A and B rounds - which signals a pipeline in the process of maturing rather than one already consolidated. There is space for new companies and new ideas to enter a market that is still taking shape.
European photonics VC funding in 2024
Growth in European photonics VC funding since 2019
The value of the global semiconductor market is project to rise to $1tn by 2030, up from $600bn in 2024
European VC funding in Future of Compute startups in 2024 - matching the previous year's record
Semiconductors: The New Oil
There is a reason the semiconductor industry is routinely described as the new oil. Every AI model, every data centre, every smartphone payment, every piece of defence equipment runs on chips. When the supply of semiconductors is disrupted, as the world discovered during the pandemic, entire industries grind to a halt.
That strategic reality has driven a wave of national and regional intervention unprecedented in the sector's history. The European Chips Act - the EU's flagship response to dependence on Asian and American manufacturers - has committed billions to rebuilding European fabrication capacity and anchoring the supply chain closer to home. The US has moved similarly, with the CHIPS and Science Act allocating more than $50bn to domestic semiconductor manufacturing. These are not industrial policy gestures. They reflect a hard-nosed assessment that whoever controls chip production controls the infrastructure of the digital age.
Scotland is an extremely innovative nation, it is exciting to see where we are going to be, and the fact we can position ourselves so well on the world stage.
Dr. Alison McLeod - Director, Photonics Scotland
Export Potential and Global Markets
Scotland's Critical Technologies Supercluster was built for the world, not just the domestic market. Around 80% of its output is already exported — a figure that reflects both the scale of global demand for these technologies and the outward-looking character of the companies that make up the cluster. These are businesses that have always competed internationally, addressing the same demanding customers and end markets that drive the sector globally.
The ambition is to build significantly on that base. Current exports stand at £3.4 billion. The target by 2035 is £8 billion — more than doubling in just over a decade, and representing the majority of the cluster's overall £10 billion turnover goal. That growth is grounded in real market dynamics. Semiconductors fabricated in Scotland are embedded in billions of smartphones worldwide. Scotland's photonics industry already generates over $2 billion in revenues, backed by a manufacturing skills base with genuine global recognition.
in exports from Scotland's Critical Technologies Supercluster
of Scotland's Critical Technology output comes from global exports
Explore Glasgow's Tech Ecosystem at glasgow.dealroom.co
Explore Glasgow's Tech Ecosystem at glasgow.dealroom.co
Global Players, Local Commitment
The presence of global technology companies in the Glasgow City Region is a strong signal of the cluster's commercial depth.
Coherent, Diodes Incorporated, NXP, Thales and Sivers Semiconductors have each chosen to locate or maintain operations here, drawn by decades of semiconductor and photonics expertise, a skilled technical workforce, and proximity to world-class research infrastructure. Click the company logos below to learn more.
Global Players, Local Commitment
The presence of global technology companies in the Glasgow City Region is a strong signal of the cluster's commercial depth.
Coherent, Diodes Incorporated, NXP, Thales and Sivers Semiconductors have each chosen to locate or maintain operations here, drawn by decades of semiconductor and photonics expertise, a skilled technical workforce, and proximity to world-class research infrastructure. Click the company logos below to learn more.
Coherent Scotland
Diodes Incorporated
NXP Semiconductors
Sivers Photonics
Global Players, Local Commitment
The presence of global technology companies in the Glasgow City Region is a strong signal of the cluster's commercial depth.
Coherent, Diodes Incorporated, NXP, Thales and Sivers Semiconductors have either invested, acquired or expanded their base of operations, adding a wealth of internation experience to Glasgow's Critical Technologies cluster.
Manufacturing across Glasgow City Region
Drawn by decades of semiconductor and photonics expertise, a skilled technical workforce, and proximity to world-class research infrastructure, a number of companies have chosen Glasgow City Region as their hub for manufacturing critical technology products.
Explore the map to learn more about each company.